Toyota Motor Corporation
MUFG Bank, Ltd.
Sumitomo Mitsui Banking Corporation
Mizuho Bank, Ltd.
TOKYO―June 29, 2020―SPARX Innovation for the Future Co., Ltd. (SIF)―a subsidiary of SPARX Group Co., Ltd. (SPARX; TSE1: 8739)―today announced that it established the Space Frontier Fund. The Fund primarily aims to support human resources and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan.
Casting technologies that "promote the exploitation of space" as core technologies of the future, the Space Frontier Fund invests in start-ups and other organizations that boast innovative technologies in related sectors. Even as COVID-19 continues to have a significant impact on life and society, the Fund helps accelerate the pace of innovation by financing companies' and projects' business development in technologies that will drive future growth.
Managed by general partner (GP) SIF, the Space Frontier Fund began operations in June with its initial total capital of JPY 8.2 billion financed through contributions from its limited partners (LP).
By December 31, 2020, the goal is to have gathered a total of JPY 15 billion in capital through additional contributions from investors that endorse the objectives of the new fund.
Space Frontier Fund Overview
|Space Frontier Investment Limited Partnership
|Start-ups, projects, and other organizations that boast technologies that contribute to the exploitation of space
|JPY 8.2 billion (as of June 29, 2020)
|At least JPY 15 billion
|Additional subscription period
|December 31, 2020 (TBC)